Advice on Saving Money in College

Saving money in college is important for survival sake. Here are a few tips that I picked up while in college that will help you to save dollars and cents and come out ahead.

Do things to save money

• Always wash a full load of laundry. If you don’t have a full load’s worth of clothes but need to do wash anyway, partner with a friend and split the cost of the washer and dryer.

• Make your own coffee at home instead of buying it at a coffee shop. Take it with you in a travel mug to class, the library and other study places instead of always going to the local coffee shop. You will save bundles!

• Always ask for a student discount- whether at a movie theater, grocery store, bookstore or for airline tickets. There is no harm in asking and you will be surprised how many establishments don’t advertize their discounts.  You can also search for local student discounts on the internet.

• To save money on your electricity bill turn off your house heater or AC when you are not at home and turn them down when you are sleeping.  Unplug appliances when you aren’t using them. Wash all your clothes in cold water if you wash them at home because using the hot water heater uses up electricity.

Spend less to save money

• One of the most expensive things in college is partying. Beer and alcohol, cigarettes and pot are expensive. Limit or exclude these things from your budget and your bank account will definitely see a positive difference.Get your hair cut and colored at a beauty school. It takes at least twice as long, but the prices are at least cut in half!

• Look through the coupon books in the newspapers every week for sales and coupons you can cut out and use at grocery stores. Every few cents saved helps you out!

• Cancel your TV cable and Blockbuster membership and instead watch your favorite shows and movies online and through Netflix. Networks such as ABC, NBC, CBS and the CW offer most of their shows for free online. And with Netflix for only $9 a month you can watch unlimited movies and stream many of them live off the internet without due dates or late fees.

Invest your time to save money

• Spend the time to fill out your FAFSA on time and to research additional private scholarships and grants that you can apply for. Generally the more effort you put into getting money for college, the more money you will receive and thus save.

• Make presents and cards for your family and friends instead of buying them. It is a great personalized way to show you care without having to spend the extra money.

• Focus on your school work. Having to take a class over again because you failed puts you that many more thousands of dollars in debt that you will have to pay back later. Also, if you focus on spending your time studying and learning you will be less tempted to spend money on non-essentials.